Northern Nevada
The retail market in Washoe County remained steady in Q1, with vacancy dropping from 3.8% to 3.4%, reflecting continued demand for retail space. The quarter included four leases exceeding 6,000 SF, marking an uptick in large-format leasing activity. With vacancy continuing to trend lower, the retail sector is expected to remain stable and competitive heading into the next quarter.
Q1 2026 marks a turning point for several long-anticipated projects, as development activity shifts from groundbreaking to delivery across the region. In Sparks, The Oddie District continues its transformation of the former Lowe’s building into a large-scale innovation and retail hub, with tenant buildouts progressing. In South Reno, construction continues at Double R Marketplace, and the Stonebrook Shopping Center expansion in Spanish Springs remains active.
In Downtown Reno, Reno Revival is generating significant momentum as Fine Entertainment Management advances toward opening its first restaurants and bars within the former Harrah’s site, marking the project’s long-awaited transition from construction to operation. Kiley Ranch Marketplace continues to advance toward its Phase One opening, which will deliver the first new power center in Sparks since 2005. These ongoing projects reflect sustained developer confidence and consistent demand for modern, well-located retail space across the region.
Southern Nevada
By Hillary Steinberg, Vice President – Retail, Avison Young…